The EACB welcomes the Commission’s initiative to consult on the way to define the next steps of its strategy on supervisory data collection in EU financial services.
A framework for supervisory reporting that is fit for purpose is a fundamental element for a sound financial sector. We agree with the Commission’s assessment that the current way of defining the reporting requirements and collecting data can be complex and lead to inefficiencies in the reporting process.
Our paper includes number of general messages important for our members with regard to supervisory reporting (i.e. proportionality, preparedness, predictability and flexibility) and its possible future evolution in the forthcoming Commission’s Strategy.